Recommend Unintended Consequences Of Bailouts: Greece Gets Slammed (Email)

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Bailouts have become known for their so-called “unintended consequences”—however intended they might have been. And now, unintended consequences strike again. The ECB’s purchase of decomposing Greek debt—an under-the-radar bailout of banks and insurance companies—are making the favorite solution to the Greek crisis, namely another deep haircut, legally impossible, says Bundesbank President Jens Weidmann.

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